Scotia RSP Catch-Up® Line of Credit

Right for you if:

  • You want to save for your future
  • You want to maximize your RSP contributions
  • Borrow to save Get a preferred lending rate and invest in an RSP for your future.
  • Access funds throughout the year Make regular contributions to your RSP.
  • Save on interest Pay no interest until you use your line of credit.

Notice: Important Changes to Scotiabank Line of Credit Accounts
Effective as of August 1, 2016, some of our fees and terms will change.


Choose how quickly you pay back the borrowed amount and if you would like to make minimum monthly payments or a one-time payment.

Payment deferral feature lets you defer for three monthly payments while you wait for your tax refund.²

Scotia Line of Credit Protection can mean providing the financial support that you and your family may need during a difficult time.

Up to $50,000 in available credit

Save for your future and you could save on the taxes you pay in that year.

Service Fees

Dishonoured payment fee: $48.00
Fee is charged for each account payment dishonoured by your financial institution on the date the payment is returned/dishonoured.

Non-sufficient fund fee: $48.00
For each cheque that is drawn on a personal line of credit but returned due to insufficient credit available.*

Overlimit fee: $29.00
Charge if an account balance exceeds its credit limit. This fee will apply any time during the statement period, but only once per period.

Find full information on interest and non-interest costs on lines of credit on the Personal Credit Agreement (400 kb).

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